This hack has the potential for the worst-case scenario to materialize, said Core Security Technologies VP of Security Awareness Tom Kellermann, a former computer security official at the World Bank.
The hackers may have already dug their way into Nasdaq's system and could be using it to infiltrate member companies' systems, he told the E-Commerce Times.
"The implications of the attack are interesting, because not only must the attackers have had someone in the crew familiar with financial institutions -- but, more importantly, they attacked and infiltrated an application that is very much part of the infrastructure that its members use. It basically reveals what C-level executives of these institutions are thinking and doing."
The question is not how did they get in, he continued -- that is a moot point by now. Rather, "we should be worrying about where they have gone from here."
With this access, the hackers potentially could manipulate data along with time tags, he said. More than likely, however, what they are doing is using the purloined information to fatten their own portfolios.